Needham & Company LLC Cuts PROS (NYSE:PRO) Price Target to $25.00

PROS (NYSE:PRO) had its price objective trimmed by Needham & Company LLC from $30.00 to $25.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

PRO has been the topic of a number of other research reports. KeyCorp raised their target price on shares of PROS from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Stifel Nicolaus boosted their price objective on PROS from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com raised PROS from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 29th. Robert W. Baird reduced their price target on PROS from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Finally, Oppenheimer downgraded PROS from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $29.13.

PROS Stock Down 2.3 %

Shares of PROS stock opened at $16.46 on Friday. The stock has a market capitalization of $786.74 million, a price-to-earnings ratio of -37.41 and a beta of 1.04. PROS has a twelve month low of $14.81 and a twelve month high of $33.50. The company has a 50-day simple moving average of $19.21 and a two-hundred day simple moving average of $21.77.

PROS (NYSE:PRO) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $86.32 million for the quarter, compared to the consensus estimate of $85.69 million. During the same period in the prior year, the company earned $0.04 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that PROS will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Scott William Cook sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $29.84, for a total transaction of $149,200.00. Following the completion of the sale, the chief accounting officer now owns 59,159 shares of the company’s stock, valued at $1,765,304.56. This trade represents a 7.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRO. CWM LLC raised its holdings in shares of PROS by 153.6% during the first quarter. CWM LLC now owns 7,666 shares of the software maker’s stock valued at $146,000 after purchasing an additional 4,643 shares during the period. Envestnet Asset Management Inc. raised its stake in PROS by 2.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,119 shares of the software maker’s stock worth $5,825,000 after buying an additional 8,656 shares during the period. Teacher Retirement System of Texas acquired a new position in PROS during the 1st quarter worth approximately $419,000. Assenagon Asset Management S.A. grew its stake in PROS by 16.2% in the first quarter. Assenagon Asset Management S.A. now owns 376,366 shares of the software maker’s stock valued at $7,162,000 after acquiring an additional 52,533 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of PROS by 5.5% during the first quarter. Rhumbline Advisers now owns 67,009 shares of the software maker’s stock valued at $1,275,000 after acquiring an additional 3,472 shares in the last quarter. Institutional investors and hedge funds own 94.27% of the company’s stock.

About PROS

PROS Holdings, Inc provides software solutions that optimize the processes of selling and shopping in the digital economy in Europe, the Asia Pacific, the Middle East, Africa, and internationally. The company offers PROS Smart Configure Price Quote that improves sales productivity and accelerate deal velocity by automating common sales tasks; and PROS Smart Price Optimization and Management, which enables businesses to optimize, personalize, and harmonize pricing.